I shared some facts and figures in my last post. I want to share a few more before I begin.
- As of 2007, BOBs generated $136 Billion in economic output in the US economy and created about 910,000 jobs.
- As of 2012, BOBs generated $150 Billion in economic output in the US economy and created 975,052 jobs.
- As of July 2015, the US population is 321,418,820 and African Americans comprise 13.3% or 42,748,703.
- Nationally, BOBs has grown from 1.9 million in 2007 to 2.6 million in 2012. African American women are the fastest growing segment in this category.
- Lastly, entrepreneurial parity remains elusive for BOBs.
NOTE: BOBs is short for Black-owned Businesses
As I read these facts and figures, the need for Bobspotter seems even more impactful.
My last post highlighted the purchasing power of OUR community at $1.3 Trillion by 2017. When we compare this to the revenue generated by BOBs, we can see a vast discrepancy between what they generate and what is possible. Furthermore, the the revenue of OUR businesses only grew by 10% and the amount of employees WE employed grew by 7% from 2007 to 2012. There are several sources that will tell you that Blacks were the hardest hit by the downturn in the economy. It becomes apparent that being Black and successful in business continues to be a struggle in good times and even more so during bad times.
What do we do now? TAKE ACTION!
Bobspotter was a created to serve as a place to bridge the gap between BOBs and the conscious consumer. We firmly believe that a financially stronger community is good for everyone.
Here are things you can do that will make a difference TODAY.
- Download the app. It can be found on Google play and in the Apple store.
- Share this information with others. The more WE know…the more WE grow!
- Use the app to locate where YOU can spend money with US.
- If you know of a BOB, please let us know or make sure to add them to the directory.
I want to leave you with this thought. If OUR community made a commitment to spend $20 a week with just the current BOBs, it would generate an additional $854,974,060 on a weekly basis to businesses that serve US and are owned by US. The power to reshape OUR community lies within US.